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Hello, I am relocating to Connecticut from North Carolina and

Customer Question
would like to know the...
Hello, I am relocating to Connecticut from North Carolina and would like to know the Income tax impact of this change My salary will be 170K and we are a family of 4. would you be able to provide advise? thanks
Submitted: 4 years ago.Category: Tax
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Answered in 25 minutes by:
6/17/2013
Tax Professional: Robin D., Senior Tax Advisor 4 replied 4 years ago
Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 16,244
Experience: 15years with H & R Block. Divisional leader, Instructor
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Robin D :

Hello and thank you for using Just Answer,
Your federal tax will not really change but the states are not the same in their exemptions and rates.
As you probably know NC has rates for tax Low – 6.0%; High – 7.75%. Conn rates are Low – 3.0%; High – 6.7%.
NC standard deductions are Single – $3,000; Married filing jointly – $6,000. Conn does not have a standard deduction, they do have very high personal exemptions, Single – $13,000; Married – $24,000; Dependents where as NC uses the same amount as federal.

Robin D :

The rate of tax for Connecticut taxable income for taxpayers filing jointly and qualifying widow(er) with dependent child is:




  • 3% on the first $20,000;



  • 5% of the excess over $20,000, but not over $1,000,000; and



  • 6.5% of the excess over $1,000,000.


Robin D :

I can only use the 2012 info to estimate but this is what your salary would be estimated for in Conn
<align=center>2012 TAX CALCULATION SCHEDULE


<table border="1" cellspacing="1">


1. Enter Connecticut AGI from Form CT-1040, Line 5, or Form CT-1040NR/PY*, Line 7.
1
$170,000.00


2. Enter exemption from Table A, Exemptions. If zero, enter '0.'
2
$0.00


3. Connecticut Taxable Income: Subtract Line 2 from Line 1. If less than zero, enter '0'.
3
$170,000.00


4. Tax Calculation: See Table B, Tax Calculation.
4
$8,450.00


5. Enter the amount from Table C, 3% Tax Rate Phase-Out Add-Back. If zero, enter '0'.
5
$400.00


6. Enter the amount from Table D, Tax Recapture. If zero, enter '0'.
6
$0.00


7. Connecticut Income Tax: Add Line 4, Line 5 and Line 6.
7
$8,850.00


8. Enter decimal amount from Table E, Personal Tax Credits. If zero, enter '0.'
8
0.00


9. Multiply the amount on Line 7 by the decimal amount on Line 8.
9
$0.00


10. Connecticut Income Tax: Subtract Line 9 from Line 7.
Enter this amount on Form CT-1040, LineXXXXX1040NR/PY*, Line 8.

10
$8,850.00




Robin D :

Now the above does not take into consideration any withholding but shows you the rate of tax on your income level.

Robin D :

If you would like to read more about Conn and all the taxes for that state (not just income) here is a link
http://www.ct.gov/drs/cwp/view.asp?A=1510&Q=472218

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